Abercrombie and Fitch warns of possible shortfall

CBS.MarketWatch.com

REYNOLDSBURG, Ohio (CBS.MW) -- Abercrombie & Fitch reported earnings in line with estimates for the first quarter and warned of a possible shortfall in the second quarter.

The company
ANF, -0.84%
posted net income of $16.2 million, or 16 cents a share, compared with net income of $15 million, or 14 cents a share a year ago. Sales totaled $206.6 million, up 10 percent over the year-ago period.

The company also said it expects earnings per share to be between 16 and 18 cents a share for the second quarter of 2000, while analysts currently expect a profit of 21 cents a share.

Shares of the retailer were last trading down 7/8 to 10.

SBE sees higher revenue, red-ink reversal

SBE Inc., a supplier of specialized communications and networking processing products, said it expects revenue in the range of $7.7 million to $7.9 million for the company's fiscal 2000 second quarter, representing a 108 percent increase over the year-ago period. The growth in the quarter was driven by strong sales to telecommunications and wireless customers. The company
SBEI
expects to report net income for the three months ended April 30 in the range of $1.3 million to $1.5 million or 39 cents to 45 cents a share, compared to a net loss of $172,000, or 6 cents, in the year-ago period. According to First Call, no analysts cover the company at this time.

The company is set to report second-quarter results before the market opens on May 18. SBE's shares were last trading down 2 1/16 to 15 9/16 Wednesday.

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